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Running out of Gold, Miners say

MONTREAL — Gold production will continue to fall, despite a brief boost in 2009 and soaring prices, as deposits are exhausted and new discoveries remain elusive, say miners.

In terms of production, "2009 is the outlier as far as the trend," Omar Jabara, spokesman for US-based Newmont Mining, the second-largest gold producer in the world, told AFP.

Overall, "it's a fact that gold production from mines has been in decline since 2001 and has gone roughly from 85 million ounces to about 75 million ounces a year," said Vincent Borg, spokesman for number one producer Barrick Gold.

"It sort of goes down about one million ounces every year and our forecast is that it will continue to decline despite the higher price" for gold nowadays, he said.

Almost everywhere, mineral deposits are being exhausted and new deposits are not being found fast enough to replace them, these experts explain.

Continue at - http://rawstory.com/2009/11/running-gold-miners/



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I received an email today:

JFYI.

The United States Mint has suspended sales of gold and silver yet again. 2009 has seen an unprecedented demand for the 2009 Gold American Eagles and 2009 Silver American Eagles as investors have clamored to secure their assets and protect their wealth against the rising tide of inflation.

This suspension in sales is temporary as the U.S. Mint continues to produce these highly sought after coins. At APMEX, we have a very limited supply of both 2009 Gold American Eagle and 2009 Silver American Eagle coins in stock and ready to ship. Buy your gold and silver bullion coins now while they are still available in the marketplace.

Mint shortages have traditionally caused a significant increase in premium – however, at APMEX, we still have these coins available at very reasonable prices. Buy your gold and silver coins today before market conditions change more and prices are driven up from excessive demand.

The news from the U.S. Mint comes on the heels of the recent news of gold's all-time highs. It seems like every day, gold reaches a new high! Already this morning, gold reached $1,186.30 per ounce as investors continue to react to major financial news about gold.

News like this will only drive demand and prices higher, and supplies lower. Get your 2009 Gold American Eagle and 2009 Silver American Eagle coins at APMEX while we still have a supply to meet our customer's needs.

Buy your gold and silver online today at www.APMEX.com!

Respectfully,

David McCarty

~~~~~~~~~~~~~~~~~~~~~~~~~~
I love my country
I am appalled by my government

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I love my country
I am appalled by my government

Makes a person wonder.

If people are paid off, threatened or telling the truth anymore. This news works well for the elite. Hmmm, and so timely just as if it was meant to come out now.

Prepare & Share the Message of Freedom through Positive-Peaceful-Activism.

Video: An Especially Bullish Gold Prediction: $8,000

http://dailyreckoning.com/an-especially-bullish-gold-predict...

Watch the video.

There is no worse tyranny than to force a man to pay for what he does not want merely because you think it would be good for him.
-Professor Bernardo de la Paz, The Moon is a Harsh Mistress
Robert A. Heinlein

History does not long entrust the care of freedom to the weak or the timid.
Dwight D. Eisenhower

dollars?

Why bother defining the value of gold using dollars?

It doesn't make any sense.